Bitmine holds approximately 6 million ETH, valued at nearly 1.45 billion USD, and will stop buying after reaching 5% of the supply

The chairman of the cryptocurrency asset treasury company Bitmine, Tom Lee, stated that Bitmine holds approximately 6 million ETH, accounting for 4.9% of the total ETH supply, and is about 100,000 ETH away from the 5% cap; purchases will stop once the cap is reached, which was proposed by Vitalik Buterin.

Tom Lee mentioned that Bitmine originally planned to complete this strategy in about 5 years, but it actually took just over a year to reach 4.9% of the total ETH supply. The company continued to buy during the bear market and made significant purchases when the ETH price was around $1,500. Bitmine increased its holdings by 12,535 ETH, raising its total to 6,041,481 ETH, which was worth nearly $14.5 billion at that time. Two days later, the company staked 159,728 ETH, with approximately 86.5% of its treasury assets already used for staking.